US adds 165,000 jobs in October as unemployment holds steady
American nonfarm payrolls increased significantly last month, with jobless rate remaining stable.
At a glance
- 165,000 nonfarm jobs added in October
- Unemployment rate held steady at 4.1 per cent
- Monthly gains exceeded the 12-month average by more than threefold
The United States added 165,000 jobs in October, according to labour data. The unemployment rate remained largely unchanged at 4.1 per cent.
The monthly job gains were more than three times the 12-month average, suggesting continued strength in the labour market.
Why it matters
Labour market strength is a key indicator of economic health and influences monetary policy decisions by the Federal Reserve.
Original reporting
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